The deal includes Zytax technology, product and business portfolios, brands and certain manufacturing equipment, a Chem-Trend spokesperson told European Plastics News. It does not include any offices or facilities.

Chem-Trend says use of advanced composites is increasing as companies try to reduce product weight.

"There are multiple studies out that highlight the expected growth of advanced composites," said the spokesperson. "One such study is by Lux Research which forecasted advanced composites to grow at an average compound annual growth rate of 16 percent between 2010 and 2020 (report from late 2011)."

Ellijay, Ga.-based Zyvax's customers include OEMs and the molded parts manufacturers that supply the aerospace, wind energy, automotive and oil and gas industries.